Mastercard, UnionPay and Visa Introduce Standardised QR Code in Thailand

Mastercard, UnionPay International and Visa have introduced a standardised quick response (QR) code for payments in Thailand. The Standardized QR Code supports the Bank of Thailand’s cashless agenda to drive innovation, interoperability, and security in payments.

By establishing standard specifications for QR code payments, customers and merchants in Thailand now have more options to pay electronically without compromising on security and convenience. The solution is intended to be implemented by banks and merchants across Thailand by the third quarter of 2017 and is designed to contribute to the financial sector’s Electronic Data Capture (EDC) expansion initiatives under the National e-Payment Roadmap introduced by Ministry of Finance.

 

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